Business
Westward Gold Recaps an Eventful 2023 & Provides 2024 Outlook
Vancouver, British Columbia - TheNewswire - December 21, 2023 - Westward Gold Inc. (CSE:WG) (OTC:WGLIF) (FSE:IM50) (“Westward” or the “Company”) is pleased to r
About this update from Westward Gold Inc
[{"type":"text","content":"Vancouver, British Columbia - TheNewswire - December 21, 2023 - Westward Gold Inc. (CSE:WG) (OTC:WGLIF) (FSE:IM50) (“Westward” or the “Company”) is pleased to reflect upon an eventful 2023 calendar year, and provide investors with a preliminary outlook for 2024. The Company made significant strides in growing and advancing its portfolio of highly-prospective gold exploration assets in Nevada, and will look to build upon its strong foundation in the near future. Colin Moore, Westward President & CEO, noted: “2023 was a transformational year for the Company, and despite a challenging capital markets environment for gold explorers, we remained committed to our growth strategy. We secured a new foothold along the Carlin Trend, while continuing to move quickly towards full ownership of our consolidated properties on the Cortez Trend. We significantly advanced our understanding of gold mineralization at our Toiyabe Property, and completed one of the deepest diamond drillholes that property has ever seen – results of which reinforced our thesis regarding a new and underexplored gold zone. We’ve unlocked new areas of interest through detailed geological mapping and reconnaissance, previously untested by drilling. Westward looks forward to building upon these achievements in 2024 and beyond, and would like to thank all of our shareholders for their continued support.” Acquisition of Carlin Trend Properties In January of 2023, Westward acquired the Coyote and Rossi Properties via a claims acquisition agreement with Fremont Gold Ltd. and its Nevada-based subsidiary, Intermont Exploration Corp. (collectively, “Fremont”). The 111 unpatented mining claims cover an area of approximately 9 square kilometres at the northern end of the prolific Carlin Trend in Nevada, a ~90 km-long gold belt that has been continuously and successfully explored and mined over the last 60 years (see Figure 1 below). Today, the area is dominated by NGM, the joint venture between top global gold producers Barrick Gold and Newmont Corporation. The Company acquired 100% ownership of the claims on favourable terms, and Fremont was granted a 2.0% net smelter return (“NSR”) royalty on the Coyote Property (of which half can be repurchased by Westward for US$2 million in cash), and a 1.0% net smelter return royalty on the Rossi Property (of which half can be repurchased...